Starting this July and based in Malaysia, the program is twelve months long and aimed at early-stage startups in the region, particularly those that use the distribution of the Web and cloud infrastructure. Selected startups will receive more than US$35,000 in grants and perks, with the most promising prospects eligible to take part in the Bootstrap Lab ‘Silicon Valley FastTrack’ program. Relocation to the US is also an option.

Divided into three parts, BootstrapAccelerator Asia covers three stages:

Ideation: 1 month designed to assist aspiring entrepreneurs flush out and validate their idea early while assembling a team capable of executing and thinkering with potential business models

Southeast Asia has a cumulative population of more than 1 billion and, though there is plenty of diversity between countries — including religion, culture and language — MAD Incubator and BootstrapLab believe the region has vast potential.

“What is developing in Southeast Asia is thrilling,” says Nicolai Wadstrom, founder of BootstrapLabs. MAD Incubator as been doing a fantastic job locally, educating, guiding and mentoring entrepreneurs and partnering with them to empower startups to grow into global companies makes them the perfect partner to achieve our joint vision.”

Andrew Wong, CEO and Founder of MAD Incubator add that the organization partnership with BootstrapLabs creates “a different offering than other Silicon Valley accelerators operating in Southeast Asia”.

Given the success of programs like JFDI Asia and the increasing interest that US investors are showing in Southeast Asia, it is encouraging to see another option for founders emerge, and particularly one that has a Silicon Valley twist.

While I believe Southeast Asia is developing into a potentially lucrative market for startups, there’s no doubt that spending time in Silicon Valley can help founders hone their business skills and develop their startup.

The first program is slated to begin on July 2. Founders that are interested in taking part can apply online here, the deadline for applications is May 30 (2013).